Murrey Math (MM) Indicator in MetaTrader 5 Download - Free - [Trading Finder]

The Murrey Math (MM) Indicator is a tool that identifies key price levels on the Meta Trader 5 (MT5) platform. It includes a central level and 6 price levels above and below this level. When the price breaks above the central level, the market trend becomes bullish and moves toward higher levels; conversely, breaking the central level downwards indicates a bearish trend.

Traders can use these levels to determine stop loss and take profit zones in their trades.

MM Indicator Table

Bullish Trend (MM)

In the 1-hour chart of the US500 index, after breaking above the central level of 5234.2, the price enters an uptrend and moves toward higher levels. As the price gets closer to a level above the central level, it encounters more resistance. Finally, when the price reaches the highest level of the MM Indicator, it reacts and stops rising.

Bearish Trend (MM)

In the 4-hour chart of USD/CAD, after breaking below the central level of 1.37943, which acted as support, the price started a downtrend and moved toward lower price levels. Traders can use the price levels of the MM Indicator as support and resistance levels or for take-profit and stop-loss purposes.

MM Indicator Settings

• P Calculation Period: Choose the period;
• Step Back: Choose the calculation starting point.

Conclusion

The Murrey Math (MM) Indicator is a powerful tool for identifying important price areas. Traders can use these levels to set their take profit and stop loss levels and indicator levels as support and resistance points in their trades.